UCHealth intends to invest millions into Southern Colorado healthcare system

WATCH: UCHealth intends to invest millions into Southern Colorado healthcare system
Published: Oct. 11, 2022 at 4:47 PM MDT|Updated: Oct. 12, 2022 at 12:05 PM MDT
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PUEBLO, Colo. (KKTV) - A partnership between UCHealth and Parkview Health System is expected to bring hundreds of millions of dollars to the healthcare system in Southern Colorado.

Both institutions announced that they signed a letter of intent on Oct. 7 for Parkview to join UCHealth in 2023. In a press release sent out on Tuesday, representatives with Parkview said that UCHealth will invest nearly $200 million into Parkview and the Pueblo community.

“This letter of intent just begins the process rolling towards eventually the final agreements between the two institutions, which should happen some time mid next year,” said Todd Seip, Communications Specialist for Parkview Health System.

According to the press release, UCHealth’s investment is expected to go toward Parkview’s nursing and clinical programs, helping recruit new staff members, and stabilizing Parkview’s finances. It also includes a $5 million donation that is meant to establish a long-term fund to support patients, the community, and the hospital.

This announcement comes as Parkview faces financial struggles that forced its medical center to close its in-patient psychiatric services, and scale back their trauma center.

“We just want to make sure that everybody knows that our staff of nearly 3,000 providers and employees and leaders are going to retain their positions and their benefits for the foreseeable future,” said Seip.

UCHealth echoed its excitement to partner with Parkview in the press release, adding that it hopes to help develop advanced treatments and clinical trials in Pueblo.

“We’re honored that Parkview reached out to us and plans to join UCHealth,” said Dan Weaver, Communications Specialist for UCHealth. “Parkview and its staff and physicians provide excellent, high-quality care for its patients, and I think we have very similar missions and commitments to the communities that we serve.”

If negotiations are finalized by summer 2023, Parkview says UCHealth will disperse the $200 million to their healthcare system over the next 10 years.

UCHealth made a major announcement providing support to Parkview Health System.